Panasonic to capture automotive battery market.

Owing to recent awareness among consumers and strict, new environmental laws, the demand for green and environment-friendly vehicles has been on a hike. As a result, the demand for Lithium-ion batteries, that are used in green vehicles is also in great demand. To cater to this growing requirement of batteries, Panasonic has decided to start producing Lithium-ion batteries in its factory at Himeji, Hyogo Prefecture, Japan.

The factory will produce batteries for electric and hybrid cars in the 2019 financial year. The Japanese battery maker will spend billions of yen for building the production lines in its home country. The electronics marketer has five more factories in Japan itself that manufacture Lithium-ion batteries.

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Panasonic is one of the top most manufacturers of Automotive Lithium-ion batteries. It has plants in USA, China and now in Japan, to increase its production capacity of vehicle batteries.

The press release provides more: “Panasonic has been building up its production capacity of automotive batteries in Japan, the United States, and China. To further boost the capacity, the company has decided to produce prismatic automotive lithium-ion batteries at the Himeji factory, which currently produces LCD panels. The plan is to install a vertically integrated production line from the component process to the assembly of battery cells at the factory, aiming to start production in the fiscal year that ends in March 2020. The company will continue to make LCD panels at the factory.”

Panasonic has also entered into a partnership with Tesla to help it manufacture its own batteries. The plant is called The Gigafactory , which is located in Nevada, USA. Panasonic is aiding Tesla to bring this plant to its full production levels. The manufacturers have joined hands to capture the booming market of mass producing automotive batteries. It is no reason to be surprised because the demand for automotive batteries is going to only rise in the years to come.

Tesla and Panasonic to manufacture Automotive Lithium-ion batteries at Gigafactory

This seems to be a very opportunistic step by Panasonic considering the fact that many countries are banning fossil fuel vehicles and promoting the use of only electric or plug-in hybrid vehicles.